BSX FY 2023 Earnings Report — Boston Scientific Corporation Revenue & Financial Results | Market Cap Arena

Boston Scientific CorporationBSX

FY 2023 Earnings

Reported February 21, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$14.2B	—	$12.7B	—	12.3%
Op. Income	$2.2B	—	$1.8B	—	19.6%
Gross Margin	62.0%	—	60.8%	—	1.2pp
Net Margin	11.2%	—	5.5%	—	5.7pp
EPS (Diluted)	$1.07	—	$0.45	—	140.6%
Free Cash Flow	$1.7B	—	$914M	—	86.3%

Revenue Flow

Item	Amount
REVENUE	$14.2B
Cost of Revenue	$5.4B
GROSS PROFIT	$8.8B
R&D Expenses	$1.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5.2B
Other Expenses	$46M
Operating Expenses	$6.7B
Cost & Expenses	$12.1B
OPERATING INCOME	$2.2B
Interest Income	$22M
Interest Expense	$272M
Other Income/Expenses	-$196M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$393M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$1.2B
EBIT	$2.3B
EBITDA	$3.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$14.2B
Cost of Revenue	$5.4B
GROSS PROFIT	$8.8B
R&D Expenses	$1.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5.2B
Other Expenses	$46M
Operating Expenses	$6.7B
Cost & Expenses	$12.1B
OPERATING INCOME	$2.2B
Interest Income	$22M
Interest Expense	$272M
Other Income/Expenses	-$196M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$393M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$1.2B
EBIT	$2.3B
EBITDA	$3.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$1.2B
Stock-Based Compensation	$233M
Deferred Income Tax	-$1M
Other Non-Cash Items	$253M
Change in Working Capital	-$770M
OPERATING CASH FLOW	$2.5B
Capital Expenditure	-$800M
Acquisitions (Net)	-$1.8B
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$52M
NET CASH FROM INVESTING	-$2.6B
Net Debt Issuance	-$4M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$145M
NET CASH FROM FINANCING	$5M
FREE CASH FLOW	$1.7B
Net Change in Cash	-$82M

Balance Sheet

Item	Amount
Cash & Equivalents	$865M
Short-Term Investments	$0
Net Receivables	$2.2B
Inventory	$2.5B
Other Current Assets	$622M
TOTAL CURRENT ASSETS	$6.5B
PP&E (Net)	$3.3B
Goodwill	$14.4B
Intangible Assets	$6.0B
Long-Term Investments	$413M
Tax Assets	$3.8B
Other Non-Current Assets	$680M
TOTAL NON-CURRENT ASSETS	$28.6B
TOTAL ASSETS	$35.1B
Account Payables	$942M
Short-Term Debt	$531M
Deferred Revenue	$266M
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$4.9B
Long-Term Debt	$8.6B
Deferred Revenue NC	$311M
Deferred Tax Liabilities	$134M
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$10.7B
TOTAL LIABILITIES	$15.6B
Common Stock	$17M
Additional Paid-In Capital	$20.6B
Retained Earnings	$819M
Treasury Stock	-$2.3B
Accum. Other Comp. Income	$49M
Other Equity	$1M
TOTAL STOCKHOLDERS' EQUITY	$19.3B
Minority Interest	$248M
TOTAL EQUITY	$19.5B
TOTAL LIABILITIES & EQUITY	$35.1B
Total Debt	$9.5B
Net Debt	$8.6B